Rich Dad Poor Dad author Robert Kiyosaki details what scenario would have him stocking up on king crypto Bitcoin (BTC).
In a new interview with Kitco News, Kiyosaki says that he’s overall very bullish on blockchain technology and if the leading digital asset were to see another major crash, he’d load up on it.
[adinserter block="1"]“I’m very optimistic and bullish on blockchain, so if Bitcoin goes down to $1,000, I’m backing up the truck, but if it goes to $25,000, I’m not buying anymore.”
The best-selling author hinted several months ago that he was expecting a dramatic drop in the price of Bitcoin, potentially as low as $1,100.
RICH Dad lesson. “LOSERS quit when they lose.” Bitcoin losers are quitting some committing suicide.’WINNERs learn from their losses. I am waiting for Bitcoin to “test” $1100. If it recovers I will buy more. If it does not I will wait for losers to “capiulate” quit then buy more.
— Robert Kiyosaki (@theRealKiyosaki) June 28, 2022
Kyosaki says buying into extreme pain is his favorite strategy, and that several opportunities to do so may be arising, not just in Bitcoin but in gold and real estate as well.
“You profit when you buy, not when you sell. All these gold people are saying ‘well the price of gold hasn’t gone up,’ and I say ‘what are you waiting for?’ I remember when gold [in the year] 2000 was $300 an ounce. You can wait for it to go to $3,000 or $30,000 an ounce before you buy that’s what stupid people do – they buy at the top of the market.
They all jump in like idiots. I’m waiting for the next crash, same with real estate. Real estate is crashing right now [and] I get very excited about it, everything’s going on sale… I don’t want to pay retail, I want to pay wholesale. It’s common capitalism.”
Bitcoin is changing hands for $20,163 at time of writing, a 2.8% dip on the day.
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